Grandeur Peak Global Advisors LLC Acquires Shares of 26,103 Freshpet, Inc. $FRPT

Key Points

• Grandeur Peak Global Advisors acquired 26,103 Freshpet shares worth approximately $1.54 million, while several other institutional investors also increased their positions.
• Freshpet reported strong quarterly results, with EPS of $0.39 beating estimates by $0.17 and revenue rising 15.4% year over year to $305.59 million.
• Analysts maintain a generally positive outlook, assigning the stock a “Moderate Buy” consensus rating and an average price target of $75.31, although insiders sold 131,972 shares worth about $9.79 million during the last quarter.

Grandeur Peak Global Advisors LLC acquired a new stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,103 shares of the company's stock, valued at approximately $1,543,000. Grandeur Peak Global Advisors LLC owned about 0.05% of Freshpet at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FRPT. William Blair Investment Management LLC acquired a new position in Freshpet during the second quarter valued at $107,066,000. Wasatch Advisors LP grew its position in Freshpet by 41.0% during the 2nd quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company's stock worth $260,921,000 after purchasing an additional 1,116,217 shares during the period. Balyasny Asset Management L.P. grew its position in Freshpet by 1,031.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 931,905 shares of the company's stock worth $56,781,000 after purchasing an additional 1,031,905 shares during the period. Armistice Capital LLC grew its position in Freshpet by 118.4% during the 3rd quarter. Armistice Capital LLC now owns 1,234,802 shares of the company's stock worth $68,050,000 after purchasing an additional 669,399 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in shares of Freshpet by 122.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,197,317 shares of the company's stock valued at $72,953,000 after buying an additional 658,114 shares during the last quarter.

Freshpet Trading Down 2.8%

Shares of Freshpet stock opened at $72.78 on Friday. The firm has a 50-day simple moving average of $62.13 and a two-hundred day simple moving average of $62.89. The company has a market cap of $3.58 billion, a P/E ratio of 19.15 and a beta of 1.61. Freshpet, Inc. has a fifty-two week low of $46.45 and a fifty-two week high of $86.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.03 and a current ratio of 6.05.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The firm had revenue of $305.59 million for the quarter, compared to analysts' expectations of $292.35 million. During the same period last year, the firm earned $0.33 EPS. The company's quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities analysts predict that Freshpet, Inc. will post 1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Freshpet from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Weiss Ratings cut Freshpet from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, June 1st. TD Cowen lifted their price target on Freshpet from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Bank of America decreased their price target on Freshpet from $75.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $70.00 price objective on shares of Freshpet in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.31.

Insider Transactions at Freshpet

In other Freshpet news, CEO William B. Cyr sold 41,022 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $72.86, for a total transaction of $2,988,862.92. Following the transaction, the chief executive officer owned 267,152 shares in the company, valued at approximately $19,464,694.72. This represents a 13.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 131,972 shares of company stock worth $9,791,213 in the last quarter. Corporate insiders own 4.30% of the company's stock.

About Freshpet

Freshpet Inc NASDAQ: FRPT is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company's products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet's offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet's product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.

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